Organigram reports Q1 net revenue C$30.4M vs. C$19.3M a year ago 06:08 OGI "Our record-breaking…
Organigram sees Q2 revenue 'significantly higher' than 2Q21 06:10 OGI Organigram currently expects a solid Q2 Fiscal 2022 revenue which will be significantly higher than Q2 Fiscal 2021, largely due to stronger forecasted market growth and the increasing number of retail stores. The company is better able to fulfill the demand for its revitalized product portfolio with its increased production, and revenue contributions from its newly acquired Laurentian facility. Net revenue growth is expected from the company's products as evidenced by Organigram's growing national adult-use recreational retail market share from 4.4% in Q1 of Fiscal 2021 to 7.5% in Q1 of Fiscal 2022. In addition, the resumption of shipments to Canndoc in Israel is expected to generate higher sequential revenue in Fiscal 2022 as compared to Fiscal 2021. The company believes it is better equipped to fulfill demand in Fiscal 2022 with larger harvests expected as compared to Fiscal 2021. Revenues in Fiscal 2022 to date including a shipment to Canndoc that was in excess of C$3M, and purchase orders received from customers, support the company's expectation of revenue growth from Fiscal 2021 to Fiscal 2022.
OGI-$
Bank of America the large cap bank stock to own for 2022, says Piper Sandler 06:08 BAC Piper Sandler analyst Jeffery Harte raised the firm's price target on Bank of America to $57 from $54 and keeps an Overweight rating on the shares. The analyst continues to believe that Bank of America is the large cap bank stock to own for 2022. Revenue tailwinds from higher interest rates seem more likely to surprise to the upside than the downside, Harte tells investors in a research note. The analyst expects the bank's capital markets-related revenue to continue surprising to the upside in 2022.
Young people feel social pressure to own iPhones, WSJ reports 06:14 AAPL, GOOG, GOOGL
T-Mobile upgraded to Conviction Buy from Buy at Goldman Sachs 06:18 TMUS Goldman Sachs analyst Brett Feldman added T-Mobile to the firm's Conviction List and keeps a Buy rating on the shares with an unchanged price target of $153. The analyst expects further attainment of merger integration milestones and ramping synergies in 2022. Further, he sees visibility into the timing and intensity of buybacks as well as an attractive valuation at current share levels.
Insurers to cover rapid Covid-19 tests under White House plan, WSJ reports 06:22 CI, CNC, CVS, HUM, UNH, WCG, HNT, MOH, ANTM Under a Biden administration plan that aims to make it more affordable for people to screen for infections and limit the spread of the omicron variant, private health insurers will have to cover the cost of over-the-counter Covid-19 tests beginning on Saturday, The Wall Street Journal's Stephanie Armour and Brianna Abbott report. Under Biden's policy, insurers will reimburse millions of people for up to eight tests a month per covered individual, or they will be able to purchase the tests at no cost through their insurance. Publicly traded companies in the space include Anthem (ANTM), CVS Health (CVS), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG)
Lucira Health Check-It COVID-19 test now available in Optum Store 07:16 LHDX Lucira Health announced that its Lucira Check-It PCR-Quality, At-Home Molecular COVID-19 Test is now available in the Optum Store. "Expanding access to Lucira's first-of-its-kind test is critical in the face of the current surge of COVID-19 cases. Our at-home molecular test delivers the lab-quality accuracy of PCR combined with the rapid, on-the-spot results of antigen tests, so you can detect early COVID-19 infection, including Omicron, before potentially putting others at risk," said Erik Engelson, President and Chief Executive Officer of Lucira Health. "The Optum Store connects consumers with high-quality, affordable health products and services to improve their overall health and care, and we're proud to offer our tests to their customers." The Lucira Check-It COVID-19 test kit has emergency authorization by FDA under EUA.
Safe-T sees momentum in Asia-Pacific with 75 new clients 07:36 SFET Safe-T Group announced…
Ping Identity named a Best Idea for 2022 at Stephens 07:50 PING
Krispy Kreme initiated with a Buy at BofA 06:53 DNUT BofA analyst Sara Senatore initiated coverage of Krispy Kreme with a Buy rating and $23 price target. The company offers a "sweet business model" as it is able to centralize production without compromising quality, since consumer tolerance for freshness in baked goods is much wider than in most food and beverages, the analyst tells investors in a research note.
Urban Outfitters reports net sales for two months ended Dec. 31 up 14.6% 08:03 URBN Urban Outfitters announced net sales for the two and eleven months ended December 31, 2021. Due to the material impact of COVID-19 on our business operations in fiscal 2021, including mandated store closures, this release includes a comparison of fiscal 2022 results to fiscal 2020. Management views the comparison of fiscal 2022 results to fiscal 2020 as the more meaningful measurement of the Company's business performance. Total Company net sales for the two months ended December 31, 2021, increased 14.6% compared to the two months ended December 31, 2019. Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in digital channel sales, partially offset by high single-digit negative retail store sales primarily due to reduced store traffic. By brand, comparable Retail segment net sales increased 47% at the Free People Group, 15% at the Anthropologie Group and 3% at Urban Outfitters. Total Retail segment net sales increased 15%. Wholesale segment net sales decreased 18% primarily from reducing the Free People Group's sales to promotional wholesale customers. URBN now believes that the total Company fourth quarter gross margin could deleverage due to higher than anticipated inbound transportation costs. For the eleven months ended December 31, 2021, total Company net sales increased 14.4% compared to the eleven months ended December 31, 2019. Comparable Retail segment net sales increased 16%, driven by strong double-digit growth in digital channel sales, partially offset by low double-digit negative retail store sales due to reduced store traffic. Wholesale segment net sales decreased 22% primarily from reducing the Free People Group's sales to promotional wholesale customers. During the eleven months ended December 31, 2021, the Company opened a total of 56 new retail locations including: 29 Free People Group stores, 17 Urban Outfitters stores, 9 Anthropologie Group stores and 1 Menus & Venues restaurant; and closed 10 retail locations including: 4 Anthropologie Group stores, 2 Free People Group stores, 2 Urban Outfitters stores and 2 Menus & Venues restaurants. During the eleven months ended December 31, 2021, 1 Urban Outfitters franchisee-owned store and 1 Anthropologie Group franchisee-owned store were opened.
Organigram sees Q2 revenue 'significantly higher' than 2Q21 06:10 OGI Organigram currently expects a solid Q2 Fiscal 2022 revenue which will be significantly higher than Q2 Fiscal 2021, largely due to stronger forecasted market growth and the increasing number of retail stores. The company is better able to fulfill the demand for its revitalized product portfolio with its increased production, and revenue contributions from its newly acquired Laurentian facility. Net revenue growth is expected from the company's products as evidenced by Organigram's growing national adult-use recreational retail market share from 4.4% in Q1 of Fiscal 2021 to 7.5% in Q1 of Fiscal 2022. In addition, the resumption of shipments to Canndoc in Israel is expected to generate higher sequential revenue in Fiscal 2022 as compared to Fiscal 2021. The company believes it is better equipped to fulfill demand in Fiscal 2022 with larger harvests expected as compared to Fiscal 2021. Revenues in Fiscal 2022 to date including a shipment to Canndoc that was in excess of C$3M, and purchase orders received from customers, support the company's expectation of revenue growth from Fiscal 2021 to Fiscal 2022.
OGI-$
Bank of America the large cap bank stock to own for 2022, says Piper Sandler 06:08 BAC Piper Sandler analyst Jeffery Harte raised the firm's price target on Bank of America to $57 from $54 and keeps an Overweight rating on the shares. The analyst continues to believe that Bank of America is the large cap bank stock to own for 2022. Revenue tailwinds from higher interest rates seem more likely to surprise to the upside than the downside, Harte tells investors in a research note. The analyst expects the bank's capital markets-related revenue to continue surprising to the upside in 2022.
Young people feel social pressure to own iPhones, WSJ reports 06:14 AAPL, GOOG, GOOGL
T-Mobile upgraded to Conviction Buy from Buy at Goldman Sachs 06:18 TMUS Goldman Sachs analyst Brett Feldman added T-Mobile to the firm's Conviction List and keeps a Buy rating on the shares with an unchanged price target of $153. The analyst expects further attainment of merger integration milestones and ramping synergies in 2022. Further, he sees visibility into the timing and intensity of buybacks as well as an attractive valuation at current share levels.
Insurers to cover rapid Covid-19 tests under White House plan, WSJ reports 06:22 CI, CNC, CVS, HUM, UNH, WCG, HNT, MOH, ANTM Under a Biden administration plan that aims to make it more affordable for people to screen for infections and limit the spread of the omicron variant, private health insurers will have to cover the cost of over-the-counter Covid-19 tests beginning on Saturday, The Wall Street Journal's Stephanie Armour and Brianna Abbott report. Under Biden's policy, insurers will reimburse millions of people for up to eight tests a month per covered individual, or they will be able to purchase the tests at no cost through their insurance. Publicly traded companies in the space include Anthem (ANTM), CVS Health (CVS), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG)
Lucira Health Check-It COVID-19 test now available in Optum Store 07:16 LHDX Lucira Health announced that its Lucira Check-It PCR-Quality, At-Home Molecular COVID-19 Test is now available in the Optum Store. "Expanding access to Lucira's first-of-its-kind test is critical in the face of the current surge of COVID-19 cases. Our at-home molecular test delivers the lab-quality accuracy of PCR combined with the rapid, on-the-spot results of antigen tests, so you can detect early COVID-19 infection, including Omicron, before potentially putting others at risk," said Erik Engelson, President and Chief Executive Officer of Lucira Health. "The Optum Store connects consumers with high-quality, affordable health products and services to improve their overall health and care, and we're proud to offer our tests to their customers." The Lucira Check-It COVID-19 test kit has emergency authorization by FDA under EUA.
Safe-T sees momentum in Asia-Pacific with 75 new clients 07:36 SFET Safe-T Group announced…
Ping Identity named a Best Idea for 2022 at Stephens 07:50 PING
Krispy Kreme initiated with a Buy at BofA 06:53 DNUT BofA analyst Sara Senatore initiated coverage of Krispy Kreme with a Buy rating and $23 price target. The company offers a "sweet business model" as it is able to centralize production without compromising quality, since consumer tolerance for freshness in baked goods is much wider than in most food and beverages, the analyst tells investors in a research note.
Urban Outfitters reports net sales for two months ended Dec. 31 up 14.6% 08:03 URBN Urban Outfitters announced net sales for the two and eleven months ended December 31, 2021. Due to the material impact of COVID-19 on our business operations in fiscal 2021, including mandated store closures, this release includes a comparison of fiscal 2022 results to fiscal 2020. Management views the comparison of fiscal 2022 results to fiscal 2020 as the more meaningful measurement of the Company's business performance. Total Company net sales for the two months ended December 31, 2021, increased 14.6% compared to the two months ended December 31, 2019. Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in digital channel sales, partially offset by high single-digit negative retail store sales primarily due to reduced store traffic. By brand, comparable Retail segment net sales increased 47% at the Free People Group, 15% at the Anthropologie Group and 3% at Urban Outfitters. Total Retail segment net sales increased 15%. Wholesale segment net sales decreased 18% primarily from reducing the Free People Group's sales to promotional wholesale customers. URBN now believes that the total Company fourth quarter gross margin could deleverage due to higher than anticipated inbound transportation costs. For the eleven months ended December 31, 2021, total Company net sales increased 14.4% compared to the eleven months ended December 31, 2019. Comparable Retail segment net sales increased 16%, driven by strong double-digit growth in digital channel sales, partially offset by low double-digit negative retail store sales due to reduced store traffic. Wholesale segment net sales decreased 22% primarily from reducing the Free People Group's sales to promotional wholesale customers. During the eleven months ended December 31, 2021, the Company opened a total of 56 new retail locations including: 29 Free People Group stores, 17 Urban Outfitters stores, 9 Anthropologie Group stores and 1 Menus & Venues restaurant; and closed 10 retail locations including: 4 Anthropologie Group stores, 2 Free People Group stores, 2 Urban Outfitters stores and 2 Menus & Venues restaurants. During the eleven months ended December 31, 2021, 1 Urban Outfitters franchisee-owned store and 1 Anthropologie Group franchisee-owned store were opened.
